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exploded during the bush years, obama added on top of that. let's remember all the sequester does is shave off a little bit of the built-in growth of government spending. over the next ten years, the budget, even with the sequester, will go from $3.5 trillion to $5.9 trillion. we're still going to get $2.4 trillion more spending. we're just not going to get $2.5 trillion more spending. i view the sequester as a very tiny step in the right direction. >> jared, you look at some of these figure, if you include the emergency money more hurricane sandy, that just means we've had a 30% increase since 2008. now under the so-called sequester, we'll have a 5% increase. it's not like we're ripping the government to shreds. >> look, the way this works is you get negative fiscal impulse when you do less then th year than you did last year. let's go to the non-partisan congressional budget office. they told us on tuesday this year they expect the economy to grow 1.4%. i don't think there's anybody listening to my voice on our financial news network of cnbc who likes that number, 1.4%. i suspect you don
obama. once again obama is pushing for higher taxes. don't take our word for it. listen to what he said last night just before the sboel. >> there is a way to solve the budget problems in a responsible way through a balanced approach that the vast majority of people agree with. if we do there is no reason we can't have strong growth in 2013. we can't b have washington dysfunction getting in the way. >> with all respect, free market capitalism is the best path to prosperi prosperity. more tax hikes will not hurt this economy. let's not push our luck. republicans will block it. we'll be right back. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. >>> stock market correction today. i still believe rising profits and an easy fed will keep the bull market going -- at least until the president tax bombs us to death again. that's what obama said before the super bowl yesterday which could be the real reaso
and they'll do it >>> good evening. i'm larry cud doe. this is "the kudlow report." president obama's poll numbers are way down and lack of jobs is the key reason. the president has no priority growth plan. the s & p 500 stock index did rise for the sixth straight week. but a key question tonight is whether apple will pay a bigger dividend with its excess cash. plus is there really a global currency war that could disrupt the entire world financial scene? >>> and then what about benghazi? at a key senate hearing, the secretary of defense revealed after five months that while four americans died tragically, president obama and hillary clinton were awol and the defense department and the joint chiefs of staff were apparently unable to do anything to save our boys. tough story. we'll talk about it. "the kudlow report" begins right now. >>> first up the big story this evening. the northeast getting pounded with snow. nbc's jay gray is in boston, and that's still expected to be where the worst of it will happen. jay, governor patrick in massachusetts ordered all cars off the road at 4:00 p.m. t
report." all right, yesterday gdp fell slightly. today jobless claims jumped by 38,000. so is the obama economy really slumping? and how stupid is it for the president to dissolve his jobs council, which by the way was nothing more than business window dressing anyway. at least today congress did pass a debt ceiling extension so we won't go bankrupt immediately. joining me now, cnbc chief international correspondent michelle caruso cabrera and laffer. i want to ask you about this whole business. government spending on defense really collapsed and helped bring down yesterday's gdp. >> yes, it did. >> so all the liberals are saying see, we told you so, if you cut spending, you're going to ruin the economy. do you believe that? >> no, not at all. government spending is taxation. milton always said it. the government redistributes resources. you can see it really clearly. two-person world, farmer a and farmer b, if farmer b gets unemployment benefits, who do you think pays for them, farmer a? you know, government spending is taxation. the reason we have the great recession is because of the
conference today, president obama sounds a dire economic warning over the sequester he calls for yet another delay in those spending cuts. and he calls for another tax increase. now it's up to republicans to respond. remember, spending cut sequester goes into effect in 24 days on march 1st. the sequester by the way was originally the president's idea. let's get right to what the president said. john harwood joins us thousanow all the details. >> as you know, there are two ways to go about deficit reduction under the sequester law passed in 2011. one is the full ten year sequester. that's $1.2 trillion in budget cuts over ten years. the other is to do it piece meal. if do you it just for the rest of of the year, it would just be $85 billion. president obama said if congress can't agree with the full pack annual by march 1st, we need to do something smaller in the name of staving off damage to the economy, to consumer, and to federal workers. here's the president. >> if congress can't act immediately on a bigger package, about they can't get a bigger package done by the time the sequester is s
the same size as it was when president obama took office, the unemployment rate today would be over 10%. this is a number nobody talks about anymore. it's a stunning number. there's simply not enough people in the workforce. and that's what makes me worry about the long-term viability of the recovery. >> and people are still withdrawn. 169,000 left the labor force in the month of january. that cannot be good. 8.5 million people are not even over the labor force in the past four years. 8.5 million people have withdrawn from the labor force. i mean, that's a terrible number. i'm not making a case, by the way. i'm not a bull on the economy because i think there are too many problems on policies and whatnot. but these jobs numbers generally, they keep looking very, very, very mediocre. >> i tell my folks back home, we can ignore the rates, ignore the revisions. the one question, the one question only is how many jobs did we create last quarter? until that number is 200,000 or 250,000 i think there's a lot to be concerned with. >> the one thing i'll ask, though, i know you're not here for y
employs. >> this is the worst defense i have heard. this is an obama-type defense on spending cuts. next thing you want is revenues to help the post office go through. what's go pac? i'm sorry. >> it's a teachable moment as guy talked about. this is what happens when you allow the government to come in and run an industry that in treery is private. it is not. any decision the post office wants to make to become more efficient, they have to say mother may i. in this administration you see whether it's the epa that wants to continue to regulate the energy industry, trying to do more in the car industry, trying to take over the health care industry. >> can i just interject? you see the problems between government has mother may i decisions over the economy. >> it has nothing to do with the obama administration. the problems of the post office go back way before president obama existed. the reality is it's an inefficient organization that has to answer to the government to make decisions. the problem is people aren't using the post office. >> let me make a quick point. first of all it's not
Search Results 0 to 6 of about 7

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